Regional markets expected to look for cues from international markets

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Global markets continued the positive momentum on the back of growing optimism over a possible trade deal between the world’s two largest economies. However, latest economic indicators continue to point towards slowing global growth. Investors are hoping for a deal to be signed, which could be able to offset part of slowing economic activity.

Oil prices have rebounded strongly since the start of the year as WTI increased by 26.1% YTD to close at US$57.3 per barrel at the close of previous week. For the regional markets, the sentiments continue to remain positive with some pullback recorded in selected markets during the week.

Going forward, the regional markets will look for cues from the international markets, especially the developments on the trade talks between the US and China.

Indexes   Last WT(%) MT(%) YTD (%)
Dubai (DFMGI) 2,633.69 4.0% 2.6% 4.1%
Abu Dhabi (ADSMI) 5,098.12 1.2% 1.1% 3.7%
Saudi (SASEIDX) 8,547.48 -0.9% -0.1% 9.2%
Kuwait (KWSE) 4,791.09 -0.1% -0.1% 1.1%
Egypt (EGX30) 15,146.71 1.1% 7.2% 16.2%
Bahrain (BHSEIDX) 1,404.84 2.4% 1.0% 5.1%
Oman (MSM30) 4,055.57 -1.3% -2.7% -6.2%

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